National Bank Financial Predicts Higher Earnings for AltaGas

Key Points

• National Bank Financial has revised its FY2025 earnings per share estimate for AltaGas to $2.29, slightly increasing from the previous estimate of $2.25, while the consensus estimate is $2.30.
• AltaGas is riding a positive trend with several brokerages increasing their price targets, such as Jefferies Financial Group raising it from C$40.00 to C$46.00.
• The company has declared a quarterly dividend of $0.315, which translates to an annual yield of 3.1% based on its payout ratio of 68.98%.

AltaGas Ltd. (TSE:ALA - Free Report) - Stock analysts at National Bank Financial raised their FY2025 earnings per share (EPS) estimates for AltaGas in a research report issued to clients and investors on Monday, August 4th. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $2.29 for the year, up from their previous forecast of $2.25. The consensus estimate for AltaGas' current full-year earnings is $2.30 per share. National Bank Financial also issued estimates for AltaGas' FY2026 earnings at $2.40 EPS.

Several other research analysts have also recently issued reports on the company. TD Securities raised their price objective on AltaGas from C$45.00 to C$48.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. ATB Capital lifted their price target on AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. CIBC lifted their price target on AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Veritas upgraded AltaGas to a "strong sell" rating in a research report on Friday, May 2nd. Finally, Scotiabank lifted their price target on AltaGas from C$45.00 to C$46.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, AltaGas currently has a consensus rating of "Moderate Buy" and a consensus target price of C$44.33.

AltaGas Stock Performance

Shares of TSE:ALA traded down C$0.03 during trading on Wednesday, hitting C$41.27. The stock had a trading volume of 298,216 shares, compared to its average volume of 801,638. AltaGas has a 12-month low of C$32.02 and a 12-month high of C$42.03. The stock has a market capitalization of C$12.29 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The stock has a 50-day simple moving average of C$39.41 and a two-hundred day simple moving average of C$38.02.

AltaGas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 16th will be given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. AltaGas's dividend payout ratio (DPR) is presently 68.98%.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.